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Council Regulation (EU) 2018/1542Show full title
Council Regulation (EU) 2018/1542 of 15 October 2018 concerning restrictive measures against the proliferation and use of chemical weapons
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Article 4
1.By way of derogation from Article 2(1), the competent authorities of the Member States may authorise the release of certain frozen funds or economic resources if the following conditions are met:
(a)the funds or economic resources are the subject of an arbitral decision rendered prior to the date on which the natural or legal person, entity or body referred to in Article 2 was listed in Annex I, or are the subject of a judicial or administrative decision rendered in the Union or a judicial decision enforceable in the Member State concerned, prior to or after that date;
(b)the funds or economic resources will be used exclusively to satisfy claims secured by such a decision or recognised as valid in such a decision, within the limits set by applicable laws and regulations governing the rights of persons having such claims;
(c)the decision is not for the benefit of a natural or legal person, entity or body listed in Annex I; and
(d)recognising the decision is not contrary to public policy in the Member State concerned.
2.The Member State concerned shall inform the other Member States and the Commission within two weeks of any authorisation granted under paragraph 1.
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